U.S. stock-index futures edged higher in choppy trade Tuesday, a day after
Standard & Poor's Ratings Service put the ratings of 15 euro-zone countries on
negative watch amid worries over the region's debt crisis. Meanwhile,
investors will pay close attention to developments surrounding a summit meeting
of European Union leaders Thursday and Friday in Brussels. Equities had
initially received a boost Monday after French President Nicolas Sarkozy and
German Chancellor Angela Merkel outlined a call for a new treaty to enshrine
budget rules and impose sanctions on countries that violate deficit limits. You
can see how the market was holding gains and trading sideways but then fell off
just before 2 p.m. EST which is why I didnt pick up any additional swing trades.
Swing trading in choppy markets isnt easy i.e. November, so sometimes the best
move is no move at all. This is an ETF that represents the Dow Jones Industrial
Average 5 minute 1 day from Monday. So anyway Im not fearful of trading here,
just cautious is all. Regarding the portfolio LOCM took 1/2 my position off the
table yesterday when it didnt hold $2.40 which is the pivot point. Here is a
video I just did on LOCM this morning . Goal is still $2.70 $3.00 but I wont
let my profit slip away either if it cant break $2.40 this week. THQI solid
1-day 5% but Id like 10% and hope to get at least $1.90s before selling. Chart
is still in play so Im feeling good here but if the market rolls THQI will give
up ground so Ill look to lock it in. Remember, stocks move with direct and
indirect forces and you must respect both. $1,000 in the pocket in 1-day is good
money if you ask me. HKN big spread but its still holding its range so I stick
with the trade. $2.60 is my mental stop and $3 $4 is my price target. Ledbed
stopping touting it which doesnt help but I still think he will come back to it
once shorts load up. Well see if Im right. USAT finally, FINALLY moved up off
support Monday on news they confirmed their CEO. This stock can flat out fly if
volume hits it so I was very happy to see it move Monday. With a new CEO in
place dont be shocked to see some positive press coming out of the company soon
which could take me green on the trade. Goal is $1.60 here with a stop below
$1.00. Newsletter updates as I said months ago, the goal with JasonBondPicks
was to offer 3 newletters in 1 long, swing and day trading. Phase 1, the swing
trading newsletter is in place and going great. Phase 2 is the day trading
newsletter which will be offered as a separate product and a higher price point.
If you like day trading (5-10 big position trades a day) and want to hang in a
chat only for subscribers then this will be for you. This system will not have
Skype, text or email alerts. Just big positions in chat in which Ill be putting
portfolio money in the trades with subscribers. An example of how Id trade this
system would be shorting 20,000 BAC at $5.77 when bad news on banks hits the
wires with a goal of $.05 $.10 per share profit in 10 minutes or $1,000 $2,000
etc. Itll be buy and short focused. Essentially its large position momentum
trading using market forces and technical analysis to make quick and big gains.
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